Fixed-fee leasehold conveyancing in Great Shelford:

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Leasehold conveyancing in Great Shelford is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Great Shelford and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Examples of recent questions relating to leasehold conveyancing in Great Shelford

I have just started marketing my ground floor flat in Great Shelford.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – what should I do?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Great Shelford. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Great Shelford ?

The majority of houses in Great Shelford are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Great Shelford so you should seriously consider looking for a Great Shelford conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

My wife and I purchased a leasehold flat in Great Shelford. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Great Shelford who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Great Shelford conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold house in Great Shelford. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Great Shelford with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Great Shelford can be reduced if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
  • The majority freeholders or Management Companies in Great Shelford charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Great Shelford.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Great Shelford leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the consents in place do not communicate with the landlord without checking with your lawyer in advance.
  • Some Great Shelford leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the registered owner of a split level flat in Great Shelford, conveyancing formalities finalised in 2011. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Great Shelford with a long lease are worth £172,000. The average or mid-range amount of ground rent is £60 levied per year. The lease finishes on 21st October 2078

    With only 54 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 plus professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Great Shelford